Analysts Set Vivid Seats Inc. (NASDAQ:SEAT) Price Target at $6.63

Vivid Seats Inc. (NASDAQ:SEAT) has received a consensus rating of “Moderate Buy” from the ten brokerages that are currently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $6.63.

A number of research firms recently issued reports on SEAT. Maxim Group lowered their target price on Vivid Seats from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Vivid Seats from $4.50 to $4.00 and set a “hold” rating on the stock in a report on Monday, November 4th. Bank of America reaffirmed a “buy” rating and issued a $6.25 target price on shares of Vivid Seats in a research note on Tuesday, December 31st. Piper Sandler reissued a “neutral” rating and issued a $4.00 price target (down previously from $5.00) on shares of Vivid Seats in a research note on Friday, November 8th. Finally, Benchmark reduced their price objective on Vivid Seats from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, November 8th.

Institutional Trading of Vivid Seats

A number of large investors have recently bought and sold shares of SEAT. Charles Schwab Investment Management Inc. boosted its stake in Vivid Seats by 35.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 735,894 shares of the company’s stock worth $2,723,000 after acquiring an additional 194,561 shares in the last quarter. Clearline Capital LP raised its position in shares of Vivid Seats by 105.6% during the second quarter. Clearline Capital LP now owns 770,798 shares of the company’s stock worth $4,432,000 after purchasing an additional 395,942 shares during the period. Covalent Partners LLC lifted its holdings in shares of Vivid Seats by 66.7% in the 3rd quarter. Covalent Partners LLC now owns 375,000 shares of the company’s stock worth $1,388,000 after purchasing an additional 150,000 shares in the last quarter. Geode Capital Management LLC grew its position in Vivid Seats by 18.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,975,047 shares of the company’s stock valued at $7,309,000 after purchasing an additional 314,482 shares during the period. Finally, Barclays PLC increased its stake in Vivid Seats by 353.2% during the 3rd quarter. Barclays PLC now owns 125,163 shares of the company’s stock valued at $462,000 after purchasing an additional 97,546 shares in the last quarter. 39.92% of the stock is currently owned by institutional investors and hedge funds.

Vivid Seats Price Performance

Shares of Vivid Seats stock opened at $4.70 on Friday. The business has a fifty day simple moving average of $3.96 and a 200 day simple moving average of $4.14. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 1.17. Vivid Seats has a 12 month low of $3.24 and a 12 month high of $6.41.

Vivid Seats (NASDAQ:SEAT) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. Vivid Seats had a net margin of 4.56% and a return on equity of 21.29%. The firm had revenue of $186.61 million during the quarter, compared to analysts’ expectations of $186.61 million. During the same quarter in the previous year, the company earned $0.07 earnings per share. Sell-side analysts predict that Vivid Seats will post 0.12 EPS for the current fiscal year.

Vivid Seats Company Profile

Vivid Seats Inc operates an online ticket marketplace in the United States, Canada, and Japan. The company operates in two segments, Marketplace and Resale. The Marketplace segment acts as an intermediary between event ticket buyers and sellers; processes ticket sales on its website and mobile applications through its distribution partners; and sells tickets for sports, concerts, theater events, and other live events.